Source: Politico

The unemployment rate fell to 10.2 percent in July, the Labor Department reported Friday. That’s down from a peak of 14.7 percent in April, but still far above the 3.5 percent rate in February before the coronavirus pandemic led to mass economic shutdowns across the country.

The economy also added 1.8 million jobs in July, the department said, a slowdown from a 4.8 million gain in June. The number of unemployed is up by 10.6 million since February.

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